140 Shares in Biogen Inc. (NASDAQ:BIIB) Purchased by CVA Family Office LLC

CVA Family Office LLC acquired a new stake in Biogen Inc. (NASDAQ:BIIB) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 140 shares of the biotechnology company’s stock, valued at approximately $36,000.

A number of other institutional investors have also bought and sold shares of BIIB. Altshuler Shaham Ltd acquired a new position in shares of Biogen during the 4th quarter valued at about $25,000. OFI Invest Asset Management acquired a new position in Biogen in the 3rd quarter valued at about $26,000. Gladius Capital Management LP purchased a new stake in shares of Biogen in the 3rd quarter valued at approximately $29,000. KB Financial Partners LLC increased its holdings in shares of Biogen by 105.1% during the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock worth $31,000 after buying an additional 62 shares during the last quarter. Finally, Union Savings Bank purchased a new stake in shares of Biogen during the 2nd quarter valued at approximately $39,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BIIB. Wedbush lifted their target price on Biogen from $239.00 to $245.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. UBS Group lowered their price objective on shares of Biogen from $276.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. Truist Financial restated a “buy” rating and set a $340.00 price target on shares of Biogen in a research note on Monday. HC Wainwright reaffirmed a “buy” rating and issued a $325.00 price objective on shares of Biogen in a research note on Wednesday, February 14th. Finally, Canaccord Genuity Group decreased their target price on Biogen from $310.00 to $305.00 and set a “buy” rating on the stock in a research note on Tuesday, February 20th. Nine research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $305.68.

Biogen Stock Performance

Shares of Biogen stock opened at $215.63 on Friday. The firm’s fifty day simple moving average is $229.71 and its 200-day simple moving average is $242.07. Biogen Inc. has a 12 month low of $211.01 and a 12 month high of $319.76. The stock has a market capitalization of $31.34 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 1.77 and a beta of -0.03. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.00 and a quick ratio of 1.26.

Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Biogen had a return on equity of 14.91% and a net margin of 11.81%. During the same period last year, the company posted $4.05 earnings per share. As a group, equities analysts forecast that Biogen Inc. will post 15.48 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Eric K. Rowinsky purchased 455 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the completion of the transaction, the director now owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the sale, the insider now owns 4,886 shares in the company, valued at $1,080,929.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eric K. Rowinsky bought 455 shares of the stock in a transaction on Thursday, February 15th. The stock was purchased at an average cost of $222.54 per share, with a total value of $101,255.70. Following the completion of the purchase, the director now directly owns 20,629 shares in the company, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Insiders sold 789 shares of company stock worth $182,213 in the last ninety days. Insiders own 0.60% of the company’s stock.

Biogen Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.